Newspaper article THE JOURNAL RECORD

U.S., Oklahoma Rig Counts Decline

Newspaper article THE JOURNAL RECORD

U.S., Oklahoma Rig Counts Decline

Article excerpt

The average number of drilling rigs actively exploring for oil and natural gas in Oklahoma during February totaled 114, the highest since October 2001.

The average number of active rigs for the state in February was up from 101 in January and the highest since it was 115 in October 2001, according to a report from Houston-based Baker Hughes. The average rig count for February was up 58.3 percent from 72 for February 2002.

The number of rigs actively exploring for oil and natural gas in Oklahoma for the week ended Friday was down eight to 114. Oklahoma's highest rig count in 2002 was 111 for the week ended Aug. 2. The number of rigs actively exploring for oil and natural gas in the United States last week was down 16 to 912. The highest U.S. rig count in 2002 was 883 for the first week of the year.

The average number of active rigs nationwide in February was 907, up from 854 in January and 825 in February 2002. …

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